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The Department of Telecommunications has directed over the top (OTT) communication apps, such as WhatsApp, Telegram, Snapchat, Signal, Arattai and others, to ensure SIM binding. This means the app will remain linked to the mobile number on a particular device. The move aims to check rising instances of frauds and digital arrests.The Department of Telecommunications (DoT), which issued the directions on November 28, asked these OTT firms to implement SIM binding within 90 days. Failure on the part of the OTT firms to implement the mandated SIM binding would attract penal provisions.The DoT also said that web or desktop versions of apps must automatically log users out every six hours and require reauthentication through QR code pairing. The mandate on SIM binding follows a nearly year-long engagement between DoT officials and OTT firms to check online frauds. The financial sector already enforces SIM binding. For instance, on UPI apps etc, money can’t be transferred if there is no activ...

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E-commerce platform Meesho Ltd., which plans to launch its initial public offering likely on December 3, is seeking a valuation of about 530 billion rupees ($6 billion), according to people familiar with the matter.The offering will comprise a fresh issue of shares worth 42.5 billion rupees and an offer for sale of 175.7 million shares by existing investors, according to Bengaluru-based Meesho’s draft prospectus. The price band is set at Rs 105-111 per share.The SoftBank Group Corp.-backed firm is in talks with SBI Funds Management Ltd. for a pre-IPO placement, the people said, asking not to be identified as the information is private. The potential placement could alter the IPO size, estimated at about 60 billion rupees, they said.Meesho, an online marketplace that is popular in smaller Indian cities, joins a growing list of companies tapping into India’s booming IPO market. Firms have already raised nearly $19.5 billion this year, following a record $21 billion in 2024, according to ...

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US President Donald Trump on Tuesday said a Ukraine-Russia deal is "very close," but European leaders were skeptical and Russian missiles continued to rain down on Kyiv.Trump, visibly frustrated at his failure to make good on last year's election boast that he could quickly end the war, said "we're getting very close to a deal."An initial US plan which was heavily weighted in Russia's favor has been replaced by one taking in more of Ukraine's interests. And an official familiar with the new version told AFP that it was "significantly better."However, US officials acknowledged that "delicate" issues remain.And French President Emmanuel Macron threw cold water on the idea of a rapid solution, stating that there is "clearly no Russian willingness" for a ceasefire or to discuss the new, more Ukraine-friendly proposal.Frantic discussions have been underway since the weekend when Ukrainian and US representatives huddled in Gen...

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With the world order looking wobbly, the European Union is eyeing to forge a broad global agenda in partnership with India and the two sides are set to firm up a free trade pact, a defence framework agreement and a strategic agenda at their annual summit on January 27. Top diplomatic sources told PTI that the free trade agreement to be sealed at the summit in New Delhi will be a "living document" on which work could be continued to iron out any issues that remain unresolved. "India and the EU can set the agenda for global governance, along with France, in the absence of the US," a senior EU official said. "India is one of the big players that we work with and can rely on." The proposed India-EU free trade agreement is expected to bring the relationship between the two sides much closer, with its positive impact being expected in a range of other sectors as well, at a time the world is witnessing trade disruptions in view of Washington's tariff policy. ...

President Donald Trump said he has accepted an invitation from Chinese leader Xi Jinping to visit Beijing in April and that he reciprocated by inviting Xi for a state visit to the U.S. later next year. Trump made the announcement a few hours after he spoke with Xi on the phone on Monday morning, in which he said the two men discussed issues including Ukraine, fentanyl, and soybeans. The phone call came nearly one month after the two men met in person in the South Korean city of Busan. "Our relationship with China is extremely strong!" Trump said. Beijing, which announced the phone call first, said nothing about the state visits but said that the two leaders discussed trade, Taiwan and Ukraine. Xi told Trump in the phone call Monday that Taiwan's return to mainland China is "an integral part of the post-war international order," and he expressed hope for a "fair, lasting and binding peace agreement" over Ukraine, according to the Chinese foreign ministr...

Kolkata: Bajaj Electricals has put its loss-making Nirlep cookware unit on the block to focus on the core consumer electronics segment, two industry executives said. The company's board has cleared a restructuring of the cookware business, which operates in a separate channel and is weighed down by unprofitable factories.The 56-year-old brand, at one point synonymous with non-stick cookware, that Bajaj had acquired in 2018 for about ₹80 crore has no synergy with the company's larger electronics portfolio. The Bajaj family has sounded out potential buyers and talks are at an initial stage, executives said.The listed Bajaj Electricals, with a market cap of over ₹5,600 crore as of Friday's closing, wants to accelerate category expansion into 8-10 new areas that are being finalised and shift investment on higher-margin lines.125524998 Sanjay Sachdeva, Bajaj Electricals's MD and CEO, said with a renewed focus on core electricals business, the board has approved an evaluation...

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The new gross domestic product (GDP) series is set for a major revamp, with the government introducing changes such as imputation of value of government provided housing, inclusion of Limited Liability Partnerships (LLPs), and revised deflators for sectors like mining, financial services, and real estate.For the estimation of non-financial private corporate sector, multi-activity firms will no longer have their entire output attributed to a single major line of business; instead, activity-wise turnover reporting in company filings will be used to split output and gross value added (GVA) across segments, according to a discussion paper issued by the statistics ministry on Friday. To measure the unincorporated sector, the new series will calculate GVA directly each year using productivity data from Annual Survey of Unincorporated Sector Enterprises (ASUSE) and workforce estimates from the Periodic Labour Force Survey (PLFS). This would replace the earlier method that relied on decade-old...

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The travel and tourism industry Thursday made a renewed pitch for 'industry status' in the upcoming budget, which will facilitate credit on lower interest rates for one the fastest growing service sectors.Industry representatives in the customary annual pre-budget session with finance minister Nirmala Sitharaman sought special incentives to promote lesser-known and emerging tourist destinations across the country.Sitharaman also met representatives of labour unions as a part of her pre-budget consultations.Industry also demanded that GST tax rates for restaurants which are part of the hotels that charge a tariff of ₹7500 or more per day be delinked from room tariffs.It pressed for simplification of visa policy, a single-window clearance system for hospitality projects, among others. from Economic Times https://ift.tt/Y7Ixg8M

In September, GST rates were reduced on many commodities. The anti-profiteering rule in Section 171 mandates that any reduction in the rate of tax should be passed on to consumers by 'commensurate reduction in prices'. But this is not always the case as, paradoxically, reduced tax does not necessarily result in reduced prices.When GST on a final product - say, an air conditioner - falls, the buyer should get a lower price. The difficulty arises when the tax is reduced on inputs used in the manufacture of dutiable final products. For example, GST was reduced from 28% to 18% on cement, but it has a complex taxation structure. Accounting standards require that taxes paid on inputs do not form part of the final product's cost if these input taxes are entitled to be set off against the duty payable on the final product.If cement is used in the construction of a commercial project, 28% tax paid on the cement will not form part of the cost of the project, because it will be set of...

International tourism to the U.S. could get a much-needed boost from the 2026 FIFA World Cup after a sluggish 2025, when visitors stayed away amid unease over President Donald Trump's trade policies and concerns about tougher border scrutiny.Foreign visitation to the U.S. was down 4% year to date through July, according to visa data from the National Travel and Tourism Office. Travel data company Tourism Economics projects a full-year decline of about 6.3% in 2025.That could reverse next year, when the world's biggest sporting event is expected to draw over a million visitors as it kicks off across 16 host cities in North America, 11 of which are in the U.S.The World Cup, which will take place from June 11 to July 19, could account for roughly one in three additional foreign visitors to the U.S. in 2026, Tourism Economics estimates.FLIGHTS, LODGING FOR TOURNAMENT IN DEMANDSearches for flights and lodging around the tournament dates are up nearly 70% from the same period in 2025...

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Indian skipper Shubman Gill is unlikely to feature in the second Test against South Africa, with Cricket Association of Bengal sources confirming that he is not travelling to Guwahati with the team on Wednesday.The team will have an optional training session on Tuesday."He has acute neck pain, and we're not allowed to further go to details about the injury. He has to keep continuing wearing the neck collar," the source told PTI."He has been advised three-four days rest and not to take flight. In this situation, he is not advised to travel to Guwahati. But we are monitoring his progress on a daily basis and the picture will be clearer by Tuesday," the sources added.The Indian team is scheduled to travel to Guwahati on Wednesday for the second and final Test, starting Saturday.Head coach Gautam Gambhir said at the post-match press conference that Gill was "still being assessed", with another round of evaluations to be carried out by the physio and medica...

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As the Indian Premier League entered retention-eve, the long-awaited lists from all ten franchises finally landed on Saturday — and they arrived framed by one of the most dramatic trade windows the league has witnessed in recent cycles. The confirmation of retained cores came on the heels of a flurry of high-impact player movements, signalling that teams have already begun shaping the competitive landscape for IPL 2026.Here is everything you need to know about the retentions and releases.Royal Challengers Bengaluru IPL 2026 Retention List Royal Challengers Bengaluru, the reigning champions of last year, made a cluster of decisive cuts while signalling confidence in some of their long-term investments. The franchise released Liam Livingstone, Lungi Ngidi, Mayank Agarwal, Swastik Chikara, Manoj Bhandage and Mohit Rathee. RCB retained 16 players, including star batters Virat Kohli, Phil Salt, Devdutt Padikkal, and Rajat Patidar, alongside all-rounders Krunal Pandya and Romario Shepherd. T...

Toy exporters may have had a strong start in this financial year, thanks to early festive shipments and front-loading by US buyers, but they are now forced to slash prices and redesign packaging as orders continue to slump with the buyers turning to other markets following imposition of 50% tariff by the US."Toy orders from the US for the next festive season, which we usually receive by October-November, are down by 50% this year as customers are shifting to China or other countries," said Amitabh Kharbanda, governing body member, Toy Association of India. The majority of festive, carnival or other entertainment articles are usually exported during April-August, ahead of the festive season in the US. Exports to the US, the top recipient of such goods, amounted to $64.5 million in the April-August period, achieving within five months of this fiscal 78% of the shipments worth $82.3 million in the entire 2024-25. 125335689 In the first five months of this fiscal, India's shi...

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Hiring in the first 10 months of the current year has improved marginally from the year-ago period, suggests an ET analysis of data from HSBC and S&P Global Market Intelligence. The jobs component of the seasonally adjusted HSBC India Purchasing Managers' Index (PMI) rose to 53.8 in the first 10 months of 2025 from 52.5 on average during the same period last year.Executives at Vedanta Group and RPG as well as leading economists confirmed the trend. Bigger companies are adding to their workforce in response to sustained demand, stronger order pipelines and investments in emerging areas, experts said. The reduction in goods and services tax (GST), slowing inflation and softer interest rates have ignited consumer demand across consumer categories.125306302 "We have seen stronger hiring momentum through 2025. Between January and September, our recruitment has remained robust, in line with the company's growth trajectory," said Vimal Kejriwal, MD and CEO, KEC Internati...

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Mumbai: Share of Bajaj Finance and its parent Bajaj Finserv tumbled on Tuesday as the lender's guidance signalling a slowdown in loan demand overshadowed an otherwise strong second-quarter performance. Bajaj Finance's shares fell 7% to close at ₹1,009.10, while Bajaj Finserv slid 5.9% to end at ₹1,992.9. Benchmark Nifty, however, rose 0.5%. "Although the results for Bajaj Finance were not bad, the management commentary indicated that the loan demand could slow down by 1-2% from the earlier projected figure of 24-25%," said Gaurav Sharma, head of research, Globe Capital. "When Bajaj Finance tumbles, Bajaj Finserv also faces the heat since it is Bajaj Finance's holding company." Brokerage Emkay Global said, against the backdrop of gradual growth moderation and intensified competition putting pressure on growth and yields, Bajaj Finance's premium valuation multiple versus lending peers is likely to narrow. So far this year, shares of Bajaj Finance and B...

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Mumbai: Public sector banks have started to fine-tune their hiring and training models at branch levels to include weightage to local languages, even as demographic differences, especially between the northern and southern parts of the country, mean that language remains an important factor in bank recruitment. The issue has been in the spotlight ever since finance minister Nirmala Sitharaman urged banks to ensure branch staff are conversant in local languages. For state-run banks the difference in hiring between clerical and officer staff is stark since clerical staff are locals while officers are selected from different parts of the country based on their performance in centralised examinations.Language is significant since the banking sector is a service industry which requires interaction with customers but also critical because the Indian Constitution has 22 official languages. The difficulty mainly arises because public sector banks have thousands of branches spread across the co...

The Haldiram Group, India's largest ethnic food services company, is looking to open western-style quick service restaurants (QSR) and is in talks with US-based global restaurant group Inspire Brands for an exclusive franchise pact to introduce the latter's sandwich chain Jimmy John's in India, said people directly aware of the developments.Two other global brands owned by Inspire Brands, global coffee and donut chain Dunkin' and ice-cream and cake shop Baskin-Robbins, already operate in India through exclusive franchise partnerships with Jubilant FoodWorks Ltd (JFL) and Graviss Group, respectively."The founder family of Haldiram's, the Agarwals, want to compete with global brands such as Subway and Tim Hortons, as well as tap into the growing, aspirational younger consumer segments which take high affinity to western cafe-style formats," one of the persons said. 125207106 While the group's FMCG entity is called Haldiram Snacks Food Pvt Ltd, the QSR ch...

Elections in Bihar, which began on Thursday, and West Bengal polls slated for early 2026 are causing a temporary shortage of household help, drivers, security guards, mall workers, and office personnel in metros like Delhi, Mumbai, Bengaluru, and Hyderabad. This has led to a 10-12% spurt in daily wages across these markets. The two states together contribute a large share of the blue-collar workforce in the metros.Employers, both domestic and industrial, are offering attendance incentives, bonuses, and advance payments to retain existing staff and ensure business continuity, said experts. Political parties are also luring back these voters with better job opportunities, land ownership, and freebies, they added. Kartik Narayan, CEO, Jobs Marketplace, Apna, a job and career platform, noted short-duration travel among those from Bihar. "This is driven by voting, voter enrollment, and the usual mix of sentiment and inducements that accompany elections," said Narayan.125206207 Par...

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Throughout his campaign, Zohran Mamdani, who was elected mayor of New York on Tuesday night, dressed his age.Yes, he wore a suit every day, not the norm for most of the city's 34-year-olds. (Millennial New Yorkers in quarter-zips probably outnumber those in suits.) But the suit he wore was the quintessential entry-level suit for a 30-something striving to be taken seriously."It's his first interview suit, which is really what this was for him," said Michael Hainey, an author and editor. For years Hainey worked at GQ and Esquire, men's fashion publications that directed men of Mamdani's age to suits with this distilled, Italian-inflected image."It's a millennial's version of 'OK, this is what I need to look good to get the job,'" Hainey said.Mamdani's jacket is soft at the shoulder, with modest lapels no wider than a Democratic Socialist's membership card; the pants are tapered, reflecting the slender cut that blew into fashion...

A massive Russian attack hit Ukraine's energy infrastructure, prompting power cuts in several regions, Kyiv's energy minister said Saturday.Moscow has in recent months escalated its attacks on energy infrastructure in Ukraine, damaging natural gas facilities which produce the main fuel for heating in the country.Experts have said Ukraine risks heating outages ahead of the winter months. "The enemy is massively attacking Ukraine's energy infrastructure again. Because of this, emergency power outages have been introduced in a number of regions of Ukraine," minister Svitlana Grynchuk wrote on social media, without specifying where."Emergency power outages will be canceled after the situation in the energy system stabilises," she said. "Despite the enemy's plans, Ukraine will have light and heat this winter," Grynchuk added.Russia has targeted Ukraine's power and heating grid throughout its almost four-year invasion, destroying a large part...

The part of mayor-elect Zohran Mamdani's combative Dhoom Machale speech in New York this week that I really appreciated was his thanks to the 'aunties'-middle-aged South Asian-origin women-who canvassed for him in the election. They were not remotely related to him but his calling them 'aunty' would be understood by subcontinentals everywhere. It was cheeky, though, given that some other aunties had landed him in a social media storm earlier.While 'clarifying' his statement about a hijab-wearing relative who had stopped using the New York subway after 9/11, Mamdani emphasised the broad desi sweep of the English term 'aunt'.More Americans may now realise just how widely, even recklessly, the words aunt/ aunty are used in the subcontinent, going way beyond the narrow confines of the western definition of consanguinity. With certain tonal inflections, aunty even doubles up as an eclectic adjective.Mamdani calling his father's "distant cousin...

India's relatively smaller ports among the major state-owned maritime facilities are beginning to show stronger growth momentum, backed by better connectivity, capacity upgrades, and gains paced by demand for specific commodities.Data from the Ministry of Ports, Shipping and Waterways show that in the first half of FY26, the country's 12 major ports handled 437.43 million tonnes (mt) of cargo, up 5.75% from 413.65 mt in the same period last year.Overseas cargo rose 5.2% to 336.47 mt, while coastal shipments increased 7.6% to 100.97 mt. Fertiliser imports recorded the steepest rise at 108%, container traffic grew 13.9% and petroleum, oil and lubricants (POL) maintained a 29% share with 6.4% growth.While Paradip, Deendayal and Jawaharlal Nehru Port Authority (JNPA) continued to lead in absolute volumes, smaller state-run ports, such as Mormugao, Chennai and New Mangalore reported stronger percentage growth.Mormugao's cargo throughput rose 14.5%, Chennai grew 8% and New Mangal...

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New Delhi: The nation's fuel exports fell 21% month-on-month in October as refiners prioritised festive domestic demand and diverted barrels to cover supply gaps from HPCL's refinery outage, with Nayara Energy's exports still held back by sanctions.Fuel exports dropped to 1.25 million barrels per day (bpd) in October from 1.58 mbd in September, with shipments of all major fuels-petrol, diesel, and aviation turbine fuel (ATF)-declining, according to Kpler, a global real-time data and analytics provider. Diesel exports, which account for about half of India's overall fuel exports, fell 12.5% month-on-month to 665,000 bpd."The drop likely reflects stronger domestic demand, a greater share of output redirected to the local market, and operational constraints such as HPCL's Mumbai refinery issues and ongoing maintenance at other sites," said Sumit Ritolia, lead research analyst-refining and modelling at Kpler. "We may see a pickup in exports during Novembe...

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Mumbai: Independent Sugar Corporation (INSCO), a part of Uganda-based Madhvani Group, has completed the acquisition of Hindusthan National Glass (HNG), India's largest glass bottle manufacturer, concluding a long-winding bankruptcy process that started four years ago.INSCO transferred ₹1,851 crore to creditors and also a 5% stake completing the resolution process."The resolution plan was implemented last month and the money transferred. It's a big relief for creditors since this account had many litigations and dragged on for many years," said a person familiar with the case.State Bank of India (SBI) is the largest creditor with 38% of the ₹3,786 crore admitted claims. It is set to gain about ₹703 crore in recovery.SBI did not reply to an email seeking comment. Creditors will also gain from the 5% equity offered by INSCO. Overall, INSCO's offer envisages a 49% recovery for creditors on total admitted claims, excluding the equity stake value.Total value of the reso...

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The Indian Railways reported 2.3% year-on-year rise in freight loading at 133.9 million tonnes (mt) for October 2025. Officials said monthly freight earnings for October also grew to the highest ever of Rs 14,216.4 crore. This has been driven by 18.4% growth in freight loading of Pig Iron and Finished Steel, 4.8% in Iron Ore, 27.8% in Fertilizers, 5.7% in Containers and 10.8% in Balance Other Goods.Coal loading declined 2.5% to 65.9 mt during October, but cumulatively remained 0.2% higher for the current fiscal at 462.8 mt. Cumulative freight loading stood 3.1% up to 935.1 million tonnes, raking in Rs 1,00,920 crore for the national transporter.“Growth in containers, and balance other goods reflects a healthy diversification of railway freight traffic,” a senior official told ET.In September the Indian Railways launched scheduled, commodity-specific, time-tabled cargo services. These are currently aimed at connecting production and consumption centres across North India.The newly intro...

Berkshire Hathaway signaled on Saturday that it remained cautious about markets, letting cash swell to a record $381.7 billion even as profit rose, in its last financial report before Warren Buffett bows out as chief executive.For a 12th straight quarter, Buffett's conglomerate sold more stocks than it bought for its $283.2 billion equity portfolio, whose holdings include Apple and American Express.Berkshire also did not repurchase any of its own stock, the fifth straight quarter without buybacks, though its stock price has significantly lagged the broader market.Lower insurance losses helped boost third-quarter operating profit 34% to $13.49 billion, topping analyst forecasts, while net income grew 17% to $30.8 billion.But revenue grew just 2%, slower than the overall U.S. economy's growth rate.Economic uncertainty and waning consumer confidence have been drags, Berkshire said, stalling sales growth at the Clayton Homes homebuilder and reducing revenue from Duracell batteries,...